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Guideline Value

Corporate

Guideline Value for Dr. Khanu Nagar 1st Cross Street

₹2200/sq.ft.

The guideline value for Dr. Khanu Nagar 1st Cross Street in Nesapakkam village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nesapakkam

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Khanu Nagar 1st Cross Street

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Dr. Khanu Nagar 1st Cross Street guideline value

The current guideline value of Dr. Khanu Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dr. Khanu Nagar 1st Cross Street has changed

Over the years, the guideline value for Dr. Khanu Nagar 1st Cross Street has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a drop of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and then further rose to Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 10%. It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Dr. Khanu Nagar 1st Cross Street's current value below this median.

Stamp duty and registration fee for property in Dr. Khanu Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Khanu Nagar 1st Cross Street?

The Sub Registrar Office that covers Dr. Khanu Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nesapakkam

The guideline value plays a crucial role when buying or selling property in Nesapakkam. It is used to determine the stamp duty and registration fees applicable during the transaction, ensuring that both parties comply with the legal requirements set by the government.

When registering a property, the guideline value is considered the minimum value for taxation purposes. This means that even if the sale price is lower than the guideline value, the stamp duty will still be calculated based on the guideline value, ensuring fair revenue collection for the state.

Frequently asked questions

What is the current guideline value of Dr. Khanu Nagar 1st Cross Street?

The current guideline value of Dr. Khanu Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Dr. Khanu Nagar 1st Cross Street?

Dr. Khanu Nagar 1st Cross Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which office handles the registration for properties in Dr. Khanu Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office handles the registration for properties in Dr. Khanu Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.